Guideline Value for SAKTHI NAGAR 6th Street

SAKTHI NAGAR 6th Street guideline value

The current guideline value of SAKTHI NAGAR 6th Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class III Type - II.

How the guideline value of SAKTHI NAGAR 6th Street has changed

The guideline value for SAKTHI NAGAR 6th Street has seen several revisions over the years. In 2002, the value was Rs 260 per sq.ft, which increased to Rs 287 per sq.ft in 2003. Following that, the value rose significantly to Rs 400 per sq.ft in 2007. The 2012 revision saw a decrease to Rs 2,250 per sq.ft, but it then increased to Rs 1,507 per sq.ft in 2017. The value further increased to Rs 2,250 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft. The changes between these revisions include a notable increase of 11% from 2023 to 2024 and a substantial increase of 49% from 2017 to 2023.

From 2012 to 2017, there was a decrease of 33%, while the period from 2007 to 2012 witnessed a remarkable increase of 463%. The value increased by 39% from 2003 to 2007 and by 10% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 862%. There are no figures available for the years not mentioned in the register.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values ranging from Rs 1,650 to Rs 6,600 per sq.ft as per the 2024 revision. The median guideline value for these streets is Rs 2,200 per sq.ft, placing SAKTHI NAGAR 6th Street above this median.

• SAKTHI NAGAR 7th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 5th Cross Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 8th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 9th Street: Rs 2,500 per sq.ft (2024)
• SAKTHI NAGAR 4th Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SAKTHI NAGAR 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, leading to a total cost of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SAKTHI NAGAR 6th Street?

The Sub Registrar Office that covers SAKTHI NAGAR 6th Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Nerkundram

The guideline value is a crucial factor during property registration in Nerkundram. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When you buy or sell property, the guideline value helps determine the official value of the property, which is essential for legal documentation. Buyers should be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of SAKTHI NAGAR 6th Street?

The current guideline value of SAKTHI NAGAR 6th Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 260 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, showing an overall increase of 862% over the years.

What is the land classification of SAKTHI NAGAR 6th Street?

SAKTHI NAGAR 6th Street is classified as Residential Class III Type - II.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers SAKTHI NAGAR 6th Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.